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Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:28 pm
by Unique
ClarkW wrote:Unique wrote:ClarkW wrote:Unique wrote:Be very alert of the monthly SPY and AAPL candles guys....I'm telling you in advance
What's your read on $SPX? Hanging Man?
Yes hanging man for SPX, it could be a sign of final exhaustion. Obviously, we need to wait for the next month's candle to confirm. Long term trend baby
FWIW, Bulkowski shows Hanging Man as not a sign of exhaustion or a top.
http://thepatternsite.com/HangingMan.html
It serves as a warning for me
The long term trend is still up, countertrend is hard like Cobra says
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:30 pm
by stlwater
essessme wrote:ClarkW wrote:stlwater wrote:ClarkW wrote:essessme wrote:two hours to month close and 20 points to burn to close at the line - tall order for da bears
What are your thoughts on chart below, essessme?
I mean no disrespect, especially since you're my only fan, but you only just noticed that?
Ha, no disrespect at all. I thought it was obvious....just trying to politely argue that a close at current levels isn't the end for bears or anything. Great thing about Cobra's forum, we can respond to other charts without being rude or it taken the wrong way. I took from his comments a close here is very bad for bears....just pointing out...in my opinion...based on that chart I disagree. That's all.
And don't kid yourself stlwater, you are amassing a nice fan club...I'm just your biggest cheerleader
Clark - yes over the medium term I will be on the lookout for a rapid rise to 1750ish after a
sell in May pullback - April marks the six month of consecutive higher closes for the spx the second longest streak since the bottom behind only the seven month launch out of the bottom.
Essemee is that based on this:
http://blog.afraidtotrade.com/structura ... om+Blog%29
and/or do you have other reasons to look to that level (1750)?
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:31 pm
by stlwater
Unique wrote:ClarkW wrote:Unique wrote:ClarkW wrote:Unique wrote:Be very alert of the monthly SPY and AAPL candles guys....I'm telling you in advance
What's your read on $SPX? Hanging Man?
Yes hanging man for SPX, it could be a sign of final exhaustion. Obviously, we need to wait for the next month's candle to confirm. Long term trend baby
FWIW, Bulkowski shows Hanging Man as not a sign of exhaustion or a top.
http://thepatternsite.com/HangingMan.html
It serves as a warning for me
The long term trend is still up, countertrend is hard like Cobra says
and painful
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:31 pm
by Daniel-David
NYSE A/D rises relentlessly to new hi after new hi today, even as SPX and IWM and QQQ dip.
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:39 pm
by stlwater
Do you think without the fed bots actually human buyers would be looking at this level, this season, this pattern, and hitting buy right now on every little weakness? I don't. This is disguising. Really is. I don't care what side of the trade you're on, this is going to end badly when it finally does.
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:40 pm
by Cobra
looks like a double bottom. tinted area the target. 20 min to close.
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:42 pm
by Out of Bounds
short 159.58
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:44 pm
by Cobra
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:48 pm
by Unique
stlwater wrote:Do you think without the fed bots actually human buyers would be looking at this level, this season, this pattern, and hitting buy right now on every little weakness? I don't. This is disguising. Really is. I don't care what side of the trade you're on, this is going to end badly when it finally does.
The ugly truth
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:49 pm
by essessme
Essemee is that based on this:
http://blog.afraidtotrade.com/structura ... om+Blog%29
and/or do you have other reasons to look to that level (1750)?[/quote]
No - its based on a pitchfork and a sense that this area 1600+ maybe littered with top picking stops and what kind of a squeeze it could produce
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:50 pm
by dr659
stlwater wrote:Do you think without the fed bots actually human buyers would be looking at this level, this season, this pattern, and hitting buy right now on every little weakness? I don't. This is disguising. Really is. I don't care what side of the trade you're on, this is going to end badly when it finally does.
In 1995 Greenspan warned of " Irrational Exuberance" and the humans kept that going another 5 years., But I do see what you mean.
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:50 pm
by Cobra
testing the day high.
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:51 pm
by Cobra
breakout.
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:53 pm
by fehro
pennies from all time highs..
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:53 pm
by Cobra
by the way, SPY new high for 0.5 cent but SPX not yet.
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:54 pm
by stlwater
dr659 wrote:stlwater wrote:Do you think without the fed bots actually human buyers would be looking at this level, this season, this pattern, and hitting buy right now on every little weakness? I don't. This is disguising. Really is. I don't care what side of the trade you're on, this is going to end badly when it finally does.
In 1995 Greenspan warned of " Irrational Exuberance" and the humans kept that going another 5 years., But I do see what you mean.
Irrational exuberance is one thing, at least it's still based on market forces. This is manipulation.. basically saying up is down and down is up.. the rules are all wrong. When it blows up, they will blame capitalism.
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:55 pm
by RealMoneyIssues
stlwater wrote:Irrational exuberance is one thing, at least it's still based on market forces. This is manipulation.. basically saying up is down and down is up.. the rules are all wrong. When it blows up, they will blame capitalism.
Excellent observation, that is exactly what they will do... scary isn't it...
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:56 pm
by Cobra
Well, guess that's it for today. FOMC tomorrow, anything could happen. thank you guys, I'll see you tomorrow. Oh, still no new high on SPX today for now of course.
before the close, please take a little time to vote for me, thanks.
https://stockcharts.com/public/1684859/tenpp
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:57 pm
by dr659
stlwater wrote:dr659 wrote:stlwater wrote:Do you think without the fed bots actually human buyers would be looking at this level, this season, this pattern, and hitting buy right now on every little weakness? I don't. This is disguising. Really is. I don't care what side of the trade you're on, this is going to end badly when it finally does.
In 1995 Greenspan warned of " Irrational Exuberance" and the humans kept that going another 5 years., But I do see what you mean.
Irrational exuberance is one thing, at least it's still based on market forces. This is manipulation.. basically saying up is down and down is up.. the rules are all wrong. When it blows up, they will blame capitalism.
Agree
Re: 04/30/2013 Live Update
Posted: Tue Apr 30, 2013 3:59 pm
by stlwater
RealMoneyIssues wrote:stlwater wrote:Irrational exuberance is one thing, at least it's still based on market forces. This is manipulation.. basically saying up is down and down is up.. the rules are all wrong. When it blows up, they will blame capitalism.
Excellent observation, that is exactly what they will do... scary isn't it...
I think it's the plan... That's the scary part.